Studies in Economic Statistics N° 131: Revisiones en cuentas nacionales trimestrales Chile 2006-2019
IMACEC
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The Monthly Economic Activity Index (Imacec) is an estimate that summarizes the activity of the different branches of the economy in a given month, at prices from the previous year; its inter-annual variation constitutes an approximation of GDP evolution. The calculation of the Monthly Economic Activity Index is based on multiple supply indicators, which are weighted by the share of economic activities in the previous year’s GDP.
The Monthly Economic Activity Index is published on the first business day of each month taking into account a lag of 31 days in relation to the month being measured. In addition to this, a breakdown is published which distinguishes mining from all other activities —mining and non-mining series—, as well as the series at factor cost. All series are presented in both original and seasonally adjusted figures.
Consistent with the established publication policy, the Monthly Economic Activity Index series are revised along with the quarterly and annual national accounts.
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June 2025’s monthly index of economic activity, Imacec
According to preliminary information, in June 2025 the Imacec grew 3.1% over the same month last year (Table 1). The seasonally adjusted series dropped 0.4% compared to the previous month and rose 2.9% in twelve months. The month came with one more working day than June 2024.
The Imacec result reflected growth in services, trade, and manufacturing, which was partially offset by lower mining production (Figure 1). The latter explains the decline in the seasonally adjusted Imacec (Figure 2).
The non-mining Imacec posted annual growth of 4.8%, while in deseasonalized terms it grew 0.8% compared to the previous month and 4.5% in twelve months.
Imacec analysis by activity
1. Goods production
Goods production fell 0.4% year-on-year. This result was explained by the decline in mining, which was partly offset by manufacturing and other goods activity. Mining performance reflected lower copper ore extraction, while the manufacturing industry was boosted by increased food processing. Other goods saw increased activity in construction and extractive fishery.
In seasonally adjusted terms, goods production fell by 2.4% compared to the previous month, owing to lower mining activity.
2. Trade
Commercial activity increased by 8.9% year-on-year. All its components showed positive results, especially wholesale trade, followed by retail trade. The former was driven by sales of raw materials, foods, and clothing, while retail trade showed increased sales in grocery stores, department stores, and online platforms. Vehicle sales also increased.
Seasonally adjusted figures grew 0.7% compared to the previous month, influenced by the results of wholesale trade.
3. Services
Services increased by 4.1% annually, explained by the performance of personal services, particularly education. The latter posted growth mainly due to a low basis of comparison due to school closures in the previous year. To a lesser extent, business services also contributed positively to the activity's result.
Seasonally adjusted figures showed growth of 0.4% compared to the previous month, driven by personal services.
In accordance with the National Accounts release schedule, preliminary GDP results for the second quarter of this year, as well as revisions for the first quarter, will be published on Monday, 18 August.
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Related information
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